Virtusa's Revenue Up 27 Percent In FY 2012
Westborough IT services company Virtusa Corp. saw its revenues rise 27 percent year-over-year to $74.2 million in the fourth quarter of fiscal year 2012.
Its profits rose 12 percent for the quarter, to $5.8 million.
For the full 2012 fiscal year, Virtusa made a $20 million profit on revenues of $277.8 million. That’s a 23 percent increase in profit and a 27 percent rise in revenue compared with fiscal 2011.
The company said its growth came from a broad base of different industries and geographies as it diversified its client base.
Virtusa’s board of directors also authorized a share repurchase program of up to $15 million over the next 12 months.
The company says it expects its revenue for the first quarter of fiscal 2013 to be between $75 and $77 million. For the full year, it’s predicting revenue between $314 and $330 million.
WBJ Web Partners
Most Recent
Most Recent
0 Comments